Key Highlights

  • Lockheed Bull 2X ETF (NASDAQ:LMTL) was quoted up 9.85% at USD 37.21 on October 22, 2026, after Lockheed Martin reported Earnings of USD 7.97 per share, a record USD 292.0 billion Backlog and a second raise to 2026 guidance.
  • Spotify 2x Long ETF (NASDAQ:SPOG) was quoted up 17.83% at USD 8.83, with Spotify reporting 788 million monthly active users and guiding fourth quarter Operating Income to EUR 820 million, above consensus.
  • Netflix 2X Long ETF (CBOE:NFLU) was quoted up 6.73% at USD 13.48, although Netflix shares fell 5.31% on October 21 after it cut 2026 Advertising Revenue expectations to about USD 2.7 billion.
  • Tesla 2x ETF (CBOE:TESC) was quoted up 6.62% at USD 23.31, after Tesla gained 3.41% on SpaceX Merger talk, before results showing adjusted earnings of USD 0.48 per share and a premarket decline of about 5%.

Lockheed Bull 2X ETF (NASDAQ:LMTL): Lockheed Martin, defense contractor

Lockheed Martin (NYSE:LMT) released third quarter 2026 results on October 22, 2026. Net sales were USD 20.7 billion against USD 18.6 billion a year earlier, net earnings were USD 1.8 billion, and Business segment operating profit rose 10% to USD 2.23 billion. Operating Cash Flow was USD 3.4 billion and free cash flow USD 3.0 billion, both lower than a year earlier because of higher customer receipts in the prior period. Backlog reached a record USD 292.0 billion, up 27% from the second quarter, including USD 52.5 billion tied to the PAC-3 MSE interceptor award. Chairman and chief executive Jim Taiclet said the results underscored the company's leadership, and the company plans to raise its Dividend for the 24th year. Lockheed Bull 2X ETF (NASDAQ:LMTL) seeks twice Lockheed's daily return, so the quoted 9.85% gain implies a stock move of about 4.9%, larger than the premarket gain cited, which suggests the shares extended gains in the session. For Lockheed Bull 2X ETF (NASDAQ:LMTL), F-35 Lot 20 to 22 funding is the next marker. For 2026 the company now expects sales of USD 80.0 billion to USD 82.0 billion, earnings of USD 30.35 to USD 30.75 per share, segment operating profit of USD 8.575 billion to USD 8.675 billion, and free cash flow of USD 7.8 billion to USD 8.0 billion, up from USD 7.0 billion to USD 7.2 billion.

Spotify 2x Long ETF (NASDAQ:SPOG): Spotify, audio streaming

Spotify (NYSE:SPOT) published its third quarter 2026 update on October 22, 2026. Total revenue was EUR 4,969 million, up 16% (14% in constant currency), slightly below the EUR 4.98 billion consensus. Operating income of EUR 672 million matched the EUR 671.8 million estimate and included EUR 22 million of social charges, EUR 13 million above forecast because of share price movement. Monthly active users reached 788 million with 11 million net additions, and premium subscribers reached 306 million with 6 million net additions. Management said all key performance indicators met or exceeded guidance and that the business is well positioned to deliver improved growth and margins in 2026. Spotify 2x Long ETF (NASDAQ:SPOG) seeks twice Spotify's daily return, and the quoted 17.83% gain implies a move of about 8.9% in the shares, which is larger than the premarket gain cited, so intraday strength beyond the open was likely. For Spotify 2x Long ETF (NASDAQ:SPOG), the fourth quarter guide of EUR 820 million is the next marker. The fourth quarter outlook is what lifted sentiment. Spotify guided to 818 million monthly active users, 316 million subscribers, revenue of EUR 5.2 billion, a 33.8% gross Margin and operating income of EUR 820 million, ahead of the EUR 813.4 million consensus.

Netflix 2X Long ETF (CBOE:NFLU): Netflix, video streaming

Netflix (NASDAQ:NFLX) released third quarter results on October 20, 2026. Revenue was USD 12.9 billion, up 12%, in line with forecast. Operating income rose 37% to USD 4.5 billion and the margin reached 34.6% against 28.2% a year earlier, ahead of forecast mainly because of expense timing, and diluted earnings were USD 0.87 versus USD 0.59. The company repurchased 63.9 million shares for USD 4.8 billion, its largest quarter, with USD 22.3 billion of authorization left. Management said member response to 2026 price changes met expectations and acknowledged investor concern about view hours growth. The headline numbers were solid, so the share reaction came from the outlook. Netflix 2X Long ETF (CBOE:NFLU) seeks twice Netflix's daily return, so a stock fall of 5.31% would normally cost the fund about 10.6%, simple arithmetic. For Netflix 2X Long ETF (CBOE:NFLU), the fourth quarter margin guide of 26.0% is the next marker. Published reports said the shares fell 5.31% on October 21, 2026. The outlook explains it: full year revenue guidance of USD 51.1 billion sits slightly below the prior midpoint, 2026 advertising revenue is now expected at about USD 2.7 billion, down from about USD 3 billion, because some ad product capabilities are rolling out more slowly, and free cash flow guidance was lowered to USD 12.0 billion from USD 12.5 billion.

Tesla 2x ETF (CBOE:TESC): Tesla, electric vehicles

Tesla (NASDAQ:TSLA) rose 3.41% in the October 21, 2026 session, ahead of its third quarter results after the close. Musk said a combination of SpaceX and Tesla would be a good idea, and special committees have been formed at the two companies to discuss it, according to published reports. SpaceX shares rose 7.79% that day after the company reported its first profit as a public company. No terms, timetable or approvals exist, so the idea is a discussion, not a deal. The rally lifted the fund by about 6.6% on a quoted basis, roughly twice the stock's gain, because the fund targets 2x daily results. Tesla 2x ETF (CBOE:TESC) seeks twice Tesla's daily return, so a gain of 3.41% in the stock maps to about 6.8% before fees, close to the quoted 6.62%. For Tesla 2x ETF (CBOE:TESC), any formal SpaceX merger steps are the next marker. Tesla reported adjusted earnings of USD 0.48 per share against estimates of about USD 0.43 to USD 0.44, revenue of USD 28.05 billion, a slight miss against some estimates, and deliveries of 486,532, down about 2% from a year earlier.

Where Things Stand

The answer is that company results and outlooks drove four very different reactions, and each fund doubled its stock's daily move. Lockheed Bull 2X ETF (NASDAQ:LMTL) reflects a beat and raise with an unresolved F-35 funding risk. Spotify 2x Long ETF (NASDAQ:SPOG) reflects a margin guide above consensus. Netflix 2X Long ETF (CBOE:NFLU) shows a mismatch between a falling stock and a rising fund quote that could not be verified. Tesla 2x ETF (CBOE:TESC) gained before results and faced a premarket drop afterward.